Orascom and Técnicas Reunidas Picked to Build $2.6bn Saudi Power Plant

Wedoany.com Report-Mar 25, A 50-50 joint venture between Egyptian contractor Orascom and Técnicas Reunidas of Spain has been chosen to build a 3GW combined-cycle gas-fired power plant in Saudi Arabia’s Eastern Province.

A 530MW combined cycle natural gas-fired power station in Contra Costa County, California

The Qurayyah IPP Expansion Project also includes a 380kV substation and the installation of carbon-capture technology for future use.

The $2.6bn contract was signed by the Hajr Two Electricity Company, a consortium of ACWA Power, the Saudi Electricity Company and Haji Abdullah Alireza.

Osama Bishai, Orascom’s chief executive, said: “This project exemplifies the type of opportunities that we actively pursue where we can leverage our expertise to deliver high-quality projects and maximum value. It also builds on our success in the power sector, most recently in Egypt, and we look forward to making a similar significant impact in Saudi Arabia.

“We are also pleased to partner with Técnicas Reunidas on this large-scale project and to extend our partnership in Saudi Arabia and the region.”